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AI Platform Lending Market Size to Surpass USD 90 Billion by 2033

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AI Platform Lending Market Size to Surpass USD 90 Billion by 2033

Gone are the days when borrowers remained anxious for getting loans. With the advent of digital lending platform, it has become easier to automate the decision-making process. These processes have the capability to disrupt the mortgage industry. According to an estimation, a single mortgage approximately takes 46-48 days to close and the lender induce USD 2000 and 2500 per loan. These platforms have eradicated the bottlenecks and made the lending process easier. 

In this article, we will discuss more about these AI powered lending platform and the associated benefits. Let us first understand the meaning of AI powered digital lending platform.

What is an AI Powered Digital Lending Platform?

A digital lending platform gives the home buyers and customers an ability to communicate with the lender on with the help of digital channels such as desktop, smartphone, website. The process uses artificial intelligence to automate the user experience, leverage the decision making, introduce personalization. 

AI powered digital lending platform is user facing application which incorporates mortgage technology avenues which are helpful in digitizing end to end processes. It connects all the platforms from customer and wholesale communication to title, sales, origination and servicing. 

Benefits of the AI Powered Digital Lending Platform: –

According to an estimation by Research Nester, approximately 99.21% of lenders believe that amalgamation of technology can remarkably improve mortgage processes. Various procedures become easy with the help of technology such as:  

  • Obtaining pre-qualification 
  • Submitting documents 
  • Receiving updates 
  • Other mortgage procedures 

Some of the prominent benefits of the platform are listed below-

  • Fraud detection and regulatory compliance 

The AI powered platform have decision management system which allows early detection of the fraud and an exhaustive audit documentation. During the regular operations, 3rd party auditing can be an arduous task when it is done manually. With the usage of right kind of software, whatever information obtained, proves to be accurate. Moreover, these software captures accurate information and eradicate errors immediately. 

There has been rising cases of malicious activities and vigilance has become extremely important. With lacking proper analysis, various criminal activities can go undetected wherein, artificial intelligence is able analyze large amount of data. 

  • Better investment evaluation 

These software has right investment recommendations which are able to match with the right appetite of the institutions. Additionally, they are able to accurately evaluate the client funding proposals which removes the risk of loss. The decisions taken by the software are better than the human analysts. In fact, the investment analysis software makes the processes easier and able to introduce much more variables. 

  • Impeccable customer experience

Customers are continuously looking for the short turnaround time, and decision management system is able to eradicate the time to know various information such as KYC (know your customers). Additionally, with the use of accurate business software, business decisions can be implemented and executed without any lengthy procedures. 

Banks claim that they are able to earn customer trust and confidence by eliminating the turnaround time. Furthermore, while making client account the information is correctly set up, this ensures cumbersome experience. 

  • Personalized product recommendation 

AI has been utilized by service and product providers for the precision marketing. The service provider is helpful in targeting customers with their unique demographic data, so that there is a maximum chance of conversion. Digital lending platform can utilize the Artificial Intelligence in the same way in order to upsell or cross sell the service or product. 

The platform is able to auto recommend mortgage services on the basis of the customer intelligence insights. 

  • AI bots for customer queries 

A digital lending platform which is powered by the AI bots is able to automate a huge pool of servicing communication. Whenever customer submits any query or tries to get an information, the chat bot can see through humongous lot of information and give one to one conversation to the customers. 

AI platform lending market scenarios: –

The global AI platform lending market is anticipated to garner a significant revenue of USD 90 billion by the end of 2033 by growing at a CAGR of 25.1% of the CAGR. The growth of the market is attributed to the rise in the digital transformation spending worldwide. 

Furthermore, the market in North America region is projected to hold the largest share. It is due to the expanding digital banking activities in the region. Also, there is a rise in credit card holders which leads to rising demand of the application. 

In a nut shell,

The above parameters are the testimony that the market hold lucrative opportunities for investors. The market has huge scope of growth in the future. Although, a brief study of market is necessary before taking a plunge. 


CLAOC To Introduce AI Workforce Training Programs

CEO Leadership Alliance Orange County (CLAOC) announced plans to launch Artificial Intelligence (AI) skills development programs early next year in partnership with Intel, along with local educational, community and workforce partners. According to CLAOC SVP Amy Kaufman, the new programs will focus on providing necessary AI skills to empower the future workforce in the growing digital economy.

Kaufman said regional workforce education is key to the OC region’s global competitiveness as companies accelerate their use of AI. “Demand for AI skills is expected to grow exponentially over the next three years and drive a need for workers to learn new technical skills across industries,” she said.

A recent Edscoop survey of higher education leaders and IT decision-makers found that 69% of all respondents sensed increasing demand from employers for graduates with AI technical skills. In January, CLAOC and its partners began a series of awareness and training sessions on how to equip the future workforce with the necessary technical, social, and career growth skills to succeed. As a partner in the effort, Intel will supply its expertise and intellectual property for the development of curriculum to be introduced by CLAOCs education partners at the high schools and community colleges with a goal to train and certify AI for Workforce skills (including non-coding), and enable access to work-based learning opportunities for at least 3,000 students by October 2026.

Carlos Contreras, Senior Director of AI and Digital Readiness at Intel said, “the next-generation workforce will need this kind of specialized training to develop solutions to the world’s greatest challenges, and community colleges have a huge role to play in unleashing innovative thinking.”

Intel’s corporate responsibility commitment to positive global impact is embedded in its purpose to create world-changing technology that improves the life of every person on the planet. This partnership builds on Intel’s commitment to expanding digital readiness to reach 30 million people in 30,000 institutions in 30 countries as part of the company’s 2030 Goals that underscore Intel’s aim to make technology fully inclusive and to expand digital readiness.

CLAOC is a not-for-profit membership organization of CEOs from some of the region’s most prominent public and private companies who are committed to leading change. CLAOCs mission is to collaborate to cultivate Orange County into a premier, inclusive, innovative talent hub. The group’s organizational priorities include creating an AI Talent Development Center of Excellence to bring together civic and business leaders, AI-focused entrepreneurs, and education organizations to cultivate and recruit the diverse talent needed now and in the future to support a robust AI-driven economy in OC. The AI Talent Development Center of Excellence will be the premier source of talent cultivation, providing OC residents the opportunity to build and flourish in AI-infused careers. Through this strategy, the group hopes to create a well-defined talent pipeline and promote a thriving local economy and environment for the region.

CLAOCs members include Edwards Lifesciences, Johnson & Johnson, EY, City of Hope Orange County, Pacific Life, PIMCO, Skyworks, Golden State Foods, Ingram Micro, and a host of others working strategically to help others succeed.
More information about CLAOC is available at

life sciences

Top 12 Benefits Commercial Life Sciences/Pharma Leaders Must Consider When Evaluating an AI-Analytics Investment

In a detailed white paper titled, “Achieving the Vision of What BI Should Be,” authors at WhizAI highlighted the importance of accurate, timely data for commercial businesses within the life-sciences sector. In order to successfully achieve the very best information in the post-pandemic economy, businesses will need to utilize tools within the technology toolbox to manage the immense amount of information critical to success.

Specifically outlined in the whitepaper is the use of artificial intelligence to help businesses navigate market shifts while accurately tracking the latest trends essential to maximize investments.

WhizAI’s co-founder and CEO, Rohit Vashisht itemized the top 12 things benefitting AI-enabled analytics and why businesses within the life sciences arena should consider this as a critical element in managing data.

1. AI-Driven Real-Time Insights: On-demand insights and real-time charts via Visualization AI

2. Self-Service Access to Content: Ask questions in natural language; drill to any data granularity; minimal training; no code environment

3. Scalable to Meet Evolving Needs: No need to create reports; automatically adapts to business changes (product launch, realignment, etc.)

4. Reduced Manual Upkeep of Reports: AI-powered maintenance and enhancements; lower total cost of ownership

5. User Preferred Interface: Seamless experience across mobile, tablet, web, and text; Voice and text-based interaction

6. Augmented Analytics: Life Sciences trained ML algorithms answering how/why questions; relevant alerts

7. Performance: Lightning fast response to ad-hoc user queries; sub-second responses on billions of records

8. Platform Scalability: Containerized microservices-based architecture; highly scalable; runs on standard hardware

9. Cloud Native and Agnostic: Optimized and designed to deploy on any public/private cloud (AWS, GCP, Azure, etc.)

10. Enterprise Ready: Single sigh on; Multi-tier security provision; audit and log capabilities; behind a firewall

11. Data Source Connectivity: Direct connectors and adaptors for data sources/systems; no need to host filed on FTP/S3

12. Change Management: Minimal planning needed; save time and money in rollouts; high adoption rate


CaseWare Launches Breakthrough Cloud Solutions to Better Connect Accountants, Auditors and Clients

New product suite includes audit and client collaboration functionality, made-for-Canada analytics, and a streamlined accounting platform to benefit users at all stages of cloud adoption

As the Canadian accounting and auditing industries adapt to a new normal amid a changing world, where working in teams and engaging with clients must be done remotely, leading software provider CaseWare International Inc. has unveiled breakthrough technology solutions that will enable accountants and auditors to work smarter, faster and more cohesively, both now and for the long term.

“The role of accountant and auditor will be more important than ever in a post-pandemic financial world, where people will need to place even greater trust in numbers and accountability,” said Ross Hampton, CaseWare Head of Business Development – Americas.

“As a result, the speed with which firms transition to this new way of working – remotely and cohesively together – will radically increase,” Hampton said. “Before, many in the industry had a vision of one day transitioning to the cloud, but circumstances beyond all of our control are forcing accountants and auditors to do it now.”

The solutions included in the announcement are: CaseWare PBC RequestsCaseWare ReviewCompTaxCaseWare Audit and CaseWare AnalyticsAI. By bringing them together in one product suite – that seamlessly ties in with other CaseWare solutions such as Working Papers – the company is giving accountants the support they need to shift their entire practice to the cloud.

Each product is a standalone solution hosted in the secure CaseWare Cloud, providing users with the flexibility to choose the product or combination of products that best fits their particular needs as they engage in new ways of working, and giving them assurance that everyone involved will be working from one integrated workflow.

“We’re addressing the needs of users at all stages of cloud adoption – from forward-thinking firms who are already in the cloud, to firms that are just starting to transition, and those that may want to start small,” Hampton explained. “Everyone needs to be thinking about how the accounting role integrates with the audit role, and how both of those activities engage with clients to ensure everyone is working from the same data, with one workflow and one process to minimize risk.”

Key features and benefits of the suite of products include:

CaseWare PBC Requests

-A new add-on to the CaseWare Cloud platform, CaseWare PBC Requests – a centralized client cloud portal that serves as an excellent introduction to the cloud – allows firms to seamlessly collaborate with clients, securely manage requests, and streamline workflow related to obtaining information.

-Users gain a two-way, real-time communication flow with clients to quickly and securely send signed letters and documentation, receive client files and respond to requests.

-Real-time electronic status updates provide improved workflow visibility, creating transparency and ensuring requests are not forgotten or missed.

-Client requests are automatically aligned with engagement status and platform integration ensures information is synched between the cloud engagement file and Working Papers.

CaseWare ReviewCompTax

-Securely hosted in CaseWare Cloud, CaseWare ReviewCompTax is an end-to-end platform that enables accountants and auditors to perform review, notice to reader and tax engagements in a single location from a single database.

-Innovative web-based tools include 24/7 real-time access to client accounts and information, automatic updates, and shared dashboards to ensure everyone is working on the same documents and all communication is securely sent, received and tracked.

-Information is automatically updated throughout financial statements and tax returns, removing the need for multiple manual entries and reducing the likelihood for error.

CaseWare Audit

-An end-to-end, cloud-based audit solution, CaseWare Audit is securely hosted in CaseWare Cloud, removing risks associated with duplication of work and over or under auditing.

-Auditors leverage content to identify risk up front and optimize their audit workflow accordingly, performing only the work necessary with the ability to record and view engagement risk from anywhere within the file.

-Auditors have the ability to securely track all communications related to an audit file in one place, from initial assessment and interpretation, to risk identification, evidence gathering and reporting, eliminating the need to work with multiple email threads.

-Auditors are ensured a proper random sample for testing directly within an engagement.

CaseWare AnalyticsAI

-CaseWare AnalyticsAI provides the same artificial intelligence-based transactional analysis, tailored to reflect the way Canadian firms work and including Canadian templates for balance sheets and income statements.

-Easy-to-use analytic capabilities which can be integrated directly into Working Papers to allow auditors to perform analysis as part of their routine workflow.

-Entire data sets are quickly analyzed to find exceptions and identify areas of higher risk, allowing auditors to perform more accurate and thorough audits.

“Whether you’re an auditor looking for greater insights or an accountant working on multiple client requests or a compilation engagement, this product suite has the functionality you need, including basic functions such as tax returns and financial statements such as integrating tax and financials into one process,” Hampton said. “You can still do everything you need to do to run your business and meet client expectations, only working in the cloud means that you can do it better.”

To learn more about this Canadian suite of products, click here.

For information on the U.S. cloud product suite, click here.